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Equilibrium Wage and Employment Dynamics in a Model of Wage Posting without Commitment
wage dispersion wage setting rank-preserving equilibrium
2012/10/24
A rich but tractable variant of the Burdett-Mortensen model of wage setting behavior is formulated and a dynamic market equilibrium solution to the model is defined and characterized. In the model, fi...
Employment dynamics of individual companies versus multicorporations
Employment dynamics individual companies multicorporations
2009/3/27
Individual companies dominated employment growth during the recent expansion; in contrast, multicorporations were responsible for all the job losses during the recent contraction.